Innosphere Ventures supported companies help fight against COVID-19

Wednesday March 18, 2020 0 comments Tags: Innosphere, Innosphere Fund, Mike Freeman, IRT, ResourceX, Chris Fabian

COLORADO -- Two Colorado companies have been working overtime to provide technology-based response solutions to vital community organizations responding to the Coronavirus (COVID-19) outbreak.Innosphere-logo  

The companies, Incident Response Technologies (IRT) and ResourceX, are both portfolio companies of the Innosphere Ventures commercialization and incubation program, which supports high-growth companies in enterprise software, hardware, engineering and scientific-based industries.

IRT, based in Greenwood Village, provides public safety organizations with intuitive, cloud-based solutions to improve the coordination of resources for first responders to emergency situations.

Their flagship product, the Rhodium Incident Management Suite, has been widely deployed in response to events such as the Boston Marathon and Hurricanes Harvey and Irma. 

The Rhodium Incident Management platform is currently utilized by hundreds of agencies across the country including police, fire, EMS, emergency management and campus security.

The Innosphere Fund, a seed stage venture capital fund, invested in IRT in 2017.

“The company has a unique offering to public safety organizations struggling to continuously improve coordination and management of resources on the front line of fire services, police services, and emergency medical services,” said Mike Freeman, Innosphere Ventures CEO.

ResourceX, based in Denver, is a software platform with powerful analytic tools that civic leaders utilize to implement a priority-based budget.

By better understanding data and evidence to transparently improve results for citizens and the community, ResourceX clients create actionable business intelligence, maximize insights, and execute change to fund their future.

 

During a public health emergency, Rhodium allows first responders to monitor the status of hospitals, quarantine centers, and other facilities.

The location and assignments of responders can be managed, and the platform allows them to plan and coordinate their response using the standardized FEMA ICS forms.

Agencies around the country are using Rhodium in response to COVID-19. University of Arkansas utilized the solution to coordinate the return of 100 students from Italy.

“It would be extremely difficult to manage this workflow on paper,” said Captain Matt Mills of the University of Arkansas Police Department.

“We had a large committee working on this effort, so the ability to consolidate information into one system and push out updates to everyone when needed was very helpful.”

 

In extremely fast-changing times, government leaders require knowledge of where resources can be shifted – especially human resources.

When it comes to emergency planning and execution of Continuity of Operations (COOP), it's crucial to exactly pin-point essential services, as well as the staffing to support those programs.

The intuitive business intelligence software tools designed by ResourceX provide civic leaders with business intelligence on every program provided by an organization including the staffing and resources supporting each program.

“Though our platform wasn’t designed intentionally to support COOP planning and execution, our clients in the City of Boise have applied their data for exactly that purpose,” said Chris Fabian, ResourceX co-founder.

Scenario planning is a critical tool for decision-making amid uncertainty. Civic leaders in local government and education face an immense amount of uncertainty right now, but ResourceX allows these leaders to act fast in order to make huge financial decisions on resource allocation to fund policies that impact the lives of their entire citizenry.

"We want civic leaders to have the resources they need to fund responses to COVID-19. For this to come true, decision-makers need to be able to identify where staff and money can be taken out of one program in order to boost investment and support for urgent needs. The role we've chosen at ResourceX is to help ease and accelerate this type of resource liquidity so civic leaders can focus on serving their communities in this time of need."